PepGen, Inc. (NASDAQ:PEPG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of PepGen, Inc. (NASDAQ:PEPG) have earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $11.50.

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of PepGen from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Wedbush reduced their price target on shares of PepGen from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PepGen in a research note on Friday, August 28th. HC Wainwright reissued a “buy” rating on shares of PepGen in a report on Wednesday. Finally, Craig Hallum assumed coverage on PepGen in a research report on Tuesday, June 16th. They set a “buy” rating and a $11.00 price objective for the company.

Hedge Funds Weigh In On PepGen

Several institutional investors have recently added to or reduced their stakes in PEPG. GSA Capital Partners LLP purchased a new position in shares of PepGen in the second quarter valued at $1,535,000. ADAR1 Capital Management LLC bought a new stake in PepGen in the second quarter worth $4,664,000. Kalehua Capital Management LLC purchased a new stake in PepGen during the first quarter valued at $1,770,000. AWM Investment Company Inc. bought a new position in PepGen during the second quarter valued at $1,080,000. Finally, Commodore Capital LP grew its stake in shares of PepGen by 31.6% in the 1st quarter. Commodore Capital LP now owns 4,475,000 shares of the company’s stock worth $7,921,000 after buying an additional 1,075,000 shares in the last quarter. Hedge funds and other institutional investors own 58.01% of the company’s stock.

PepGen Trading Down 1.9%

NASDAQ:PEPG opened at $3.15 on Thursday. PepGen has a 12-month low of $1.31 and a 12-month high of $7.80. The stock has a 50-day moving average price of $2.54 and a 200 day moving average price of $2.71. The stock has a market capitalization of $218.17 million, a P/E ratio of -2.40 and a beta of 1.97.

PepGen (NASDAQ:PEPG) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. On average, research analysts predict that PepGen will post -1.11 earnings per share for the current fiscal year.

About PepGen

PepGen, Inc (NASDAQ: PEPG) is a clinical-stage biotechnology company headquartered in San Diego, California. The company is developing precision gene editing therapies to address rare genetic diseases by combining advanced prime editing modalities with proprietary delivery technologies. PepGen’s platform is designed to achieve targeted and durable correction of disease-causing mutations in vivo, with the goal of providing long-lasting therapeutic benefit after a single administration.

The company’s lead development programs include PPG-001 for mucopolysaccharidosis type II (Hunter syndrome) and PPG-002 for mucopolysaccharidosis type I (Hurler syndrome).